‘Forgotten Generation’ Becomes Financial Goldmine
CHICAGO, IL–(Marketwired – May 8, 2014) – The so-called “Forgotten Generation” of more than 63 million Americans that followed the Baby Boomers and preceded the Millennials is now requiring attention as they approach the years of their greatest earning potential and most critical financial decisions. Spectrem Group’s Millionaire Corner study, Generation “X” Marks the Spot: Managing Relationships with the Forgotten Generation, looks at investors born between 1965 and 1980 to see what they are thinking as they enter into a critical and determinant investing era.
Generation X investors differentiate themselves because:
- They are more comfortable using social media for financial purposes, and more likely to seek out financial information through Internet channels.
- They have greater expectations that their personal financial situation will be stronger one year from now than it is at present (64 percent for Generation X to 52 percent for Baby Boomers and 45 percent for World War II investors).
- Only 45 percent use a financial advisor to any degree, in contrast to the 70 percent of Baby Boomers who use financial advisors.
“The financial world has long overlooked Gen X investors – Generation X has been overshadowed by their Baby Boomer parents since birth, but as Baby Boomers move into the retirement phase of their lives, the next age group becomes the most influential one,” says George H. Walper Jr., president of Spectrem Group. “Generation X investors are more willing to take risks than their predecessors, which makes them a key client for the investment community.”
Additional insights about wealthy investors from the Affluent Market Insights Report 2013 are available at Spectrem.com and Spectrem’s Millionaire Corner, including:
Millionaire Corner delivers timely, relevant and practical information and tools to help fuel financial growth for Millionaire investors and aspiring millionaires. With its Best Financial Advisors service, investors are able to search and evaluate financial advisors based on actual customer reviews of satisfaction with the advisor.
About Spectrem Group
Spectrem Group (www.spectrem.com) is the leading research provider in the wealth management marketplace. Each month, Spectrem Group surveys more than 1500 investors with $100,000 to $25 million of net worth regarding their investment attitudes and behaviors.